while calculating the income under 44ad partner salary and interest is allowed as deduction? and 40(b) is applicable and also 40(b) disallowance is add back to presumptive income?
Suppose firm has calculated turnover to be 10 lacs and assuming 8% of profit i.e. 80000. so this income will be deemed your income and partner remuneration and interest are already deemed to be considered in that so you don't have to deduct that again to arrive at profit. hope I am clear
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